Calculate ARV for small multi family properties

[Julian Dover]

Hello BP community just a quick question reading reading David green BRRRR book and came across a part in the book where he stated that using comps in the area to determine the ARV for multifamily properties was not a correct way to do it because multi-families are based on the income brought in so instead investor look at the cap rate. But I thought the cap rate was used only on large commercial properties only to determine the performance,

so my question is can you apply the ARV strategy for small distressed 2-4 unit multi families as you would for SFH's?